DCIT -CC- 4(1), MUMBAI V. CINELINE INDIA LTD(EARLIER KNOWN AS CLINEMAX INDIA LIMITED), MUMBAI

MA 325/MUM/2021

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 4522 (ITAT-MUMBAI)
• Duration Of Justice: 4 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-05-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 30-12-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & MS. KAVITHA RAJAGOPAL, JUDICIAL MEMBER M.A. No.325/Mum/2021 (Arising out of ITA No.5942/Mum/2017) (Asse ssment Year :2007-08) DCIT-CC-4(1) Room No.665A, 6 th Floor Aayakar Bhavan M.K.Marg, Mumbai Maharashtra-400 020 Vs. M/s. Cineline India Ltd., (Earlier known as Clinemax India Ltd.,) Business Point-349, 8 th Floor, Western Express Highway, Andheri(E) Mumbai, Maharashtra-400 059 PAN/GIR No.AACCC1775F (Appellant) .. (Respondent) Revenue by Shri Tejinder Pal Singh Assessee by None Date of Hearing 01/04/2022 Date of Pronouncement 04/05/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): By virtue of this Miscellaneous Application, the Revenue seeks to recall the order passed by this Tribunal on 30/01/2020 which was dismissed on the ground of low tax effect. 2. We find from perusal of Miscellaneous Application of the Revenue that if the subsidy component claimed by the assessee before the ld. CIT(A) alone is considered, the tax effect on that would be more than MA No. 325/Mum/2021 M/s. Cineline India Ltd., 2 Rs.50,00,000/-. Hence, we find that the Miscellaneous Application of the Revenue is correct and the order passed by this Tribunal dated 30/01/2020 requires to be restored. Accordingly, we are inclined to restore the appeal dated 30/01/2020 by allowing the Miscellaneous Application of the Revenue and Registry is directed to fix the main appeal for hearing on 14/06/2022. Registry to issue notice to both the parties. 3. In the result, Miscellaneous Application of the Revenue is allowed. Order pronounced on 04/05/2022 by way of proper mentioning in the notice board. Sd/- (KAVITHA RAJAGOPAL) Sd/- (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 04/05/2022 KARUNA, sr.ps Copy of the Order forwarded to : BY ORDER, (Asstt. Registrar) ITAT, Mumbai 1. The Appellant 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy//